This paper specifies a two-variable system of house prices and income for N.Z., U.K. and the U.S., covering periods from 1973:4 through 2008:2. The analysis allows the identification of differences in house priceincome ...

Using a dynamic version of the present value model and a range of developed and Asian emerging markets, this paper considers what stock market prices ‘should have been’, given expectations on index cash dividends and on, ...

This paper examines UK University Vice Chancellors (VC) pay awards. The empirical analysis, covering the period 1997 to 2002, evaluates the impact upon VC pay awards of university performance measures, an internal pay ...

Abstract
Motivated by a priori uncertainty with respect to the parametric specification of
the earnings function, I model the earnings function as semiparametric partially
linear model and follow the estimation approach ...

This paper studies actual (real) house prices relative to fundamental (real) house values. Such a focus is warranted since housing constitutes a large fraction of most household portfolios, and its characteristics are ...